HUB Investment Partners LLC Invests $415,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

HUB Investment Partners LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, Holdings Channel.com reports. The firm purchased 804 shares of the construction company’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. FMR LLC increased its holdings in shares of Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after buying an additional 191,043 shares in the last quarter. Amundi boosted its position in Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock valued at $808,005,000 after buying an additional 148,065 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after buying an additional 916,743 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research reports. Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a report on Wednesday, December 11th. Stifel Nicolaus assumed coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $559.00 target price for the company. Finally, Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $628.64.

Insider Buying and Selling at Martin Marietta Materials

In other news, SVP Michael J. Petro acquired 550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Down 1.3 %

NYSE:MLM opened at $477.49 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business’s 50-day simple moving average is $511.26 and its 200-day simple moving average is $539.18. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The stock has a market capitalization of $29.11 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.